Is the Market Classification of Risk Always Efficient? - Evidence from German Third Party Motor Insurance

This paper studies the empirical effects of risk classification in the mandatory third-party motor insurance of Germany following the European Union’s directive to de-regulate insurance tariffs of 1994. We find evidence that inefficient risk categories had been selected while potentially efficient information was dismissed. Risk classification did generally not improve the efficiency of contracting or the composition of insureds in this market. These findings are partly explained by the continuing existence of institutional restraints in this market such as compulsory fixed coverage and unitary owner insurance.

Neoliberalism, the Third Way and Social Work: the UK experience

For most of the past two decades, the notion that there is no alternative to the market as a basis for organising society has constituted a kind of global 'common sense', accepted not only by the neo-liberal Right but also by social democratic thinkers and politicians, in the form of 'the Third Way'. This paper will critically assess the central claims of neoliberalism in the light of experience in the UK and internationally, evaluate the ways in which Third Way policies are shaping social work in the UK, and in the final section, begin to explore some of the ways in which the anti-capitalist movement which has emerged in recent years might contribute to the development of a new, engaged social work, based on social justice.